GBPUSD could perform a complex correction, followed by a lower degree and breakout for another motive wave down
WTICOUSD has reached a decision point. If Bulls are unable to push price up to 88, then I'll stay with the current Bearish trend and look for lower degree corrections and breakout.
SNP500 Bulls will need to defend 3521. If price action starts consolidating below 3521, then we could get a lower degree pullback and breakout for the next motive wave down.
AUDUSD has a bearish bias, hence a deep retrace will provide opportunity for bears to join in the sell. A lower degree breakout could give the next motive wave down.
XAUUSD Bears remain in control if price is kept below 1710. A pullback toward 1710 followed by a lower degree SELL breakout could give the next motive wave down.
AUDUSD Bears pressure continue if price stays below 0.68. A retrace and lower degree flag breakout for the next motive wave down is possible.
In case effects of this week's rate hike announcement already priced into the market. A retracement and lower degree flag breakout for the next motive wave up is possible.
A Break of trendline and consolidation of oil price above 97, can see a push up to 115.
Gold Bearish pressure continue as price remain below 1723. A retrace to an area of value, followed by a lower degree flag breakout continues the motive wave down.
BTCUSD looks bearish biased if it can stay below 23K. A retrace and breakout for the next motive wave down is possible.
If SNP 500 price action stays bellow 4120, Bears be in control...
Monitoring For Bearish signs such as price action below $290
EJ could make another motive wave to the upside, creating the 5th wave of Elliott's Wave...
A retrace followed by a lower degree correction and breakout sets up the next motive wave down.
Lower degree pullbacks will allow opportunities to add to the sell
SNP500 correction sets up appropriate confirmation and r:r for 1 more motive wave down.
1. Break of the trend line sets up a bias for the Buy. 2. 3/3 sets up r:r + entry confirmation.